PARA 5.11.1

Extension of export obligation period

The firm/company or group company registered within the original/extended E.O. period with the BIFR or state rehabilitation Scheme for SSI unit as a sick unit or any firm/company acquiring a unit, which is under BIFR may apply for extension in export obligation period for fulfillment of export obligation to Director General of Foreign Trade.

The firm/company, which is applying for registration with BIFR/ Rehabilitation Department of State Government shall also intimate DGFT with regard to relief sought for EPCG licence, if any, within 30 days of receipt of the application by agency concerned. The DGFT, on receipt of intimation/notice received from the BIFR/operating agency/ Rehabilitation Department of State Government shall take up the matter with the agency concerned to safeguard government interest on account of default in fulfillment of export obligation imposed on EPCG licence obtained by such firm.

DGFT may consider such application for grant of extension in the period of export obligation upto 12 years or as per the rehabilitation package prepared by operating agency and approved by BIFR board [OLD - broad ]/state authority, on its merit.

(In above para word "broad" has been replaced by the word "board" vide PN. NO. 53(RE-03), DT. 27/02/2004)

(Above Para 5.11.1 has been added vide PN. No. 42/2003, DT. 28/01/2004)